Sometimes a business plan doesn’t cover opportunity.
Years ago, Gerry said, his grandfather told him when opportunity comes, you have to grab it quickly. Gerry is not a crazy risk taker, though in business, he is aggressive. He planned for everything he could. And he had a detailed business plan well before his business opened, which he has updated at least every quarter since that original plan.
Because the business has been active less than two years, banks are not breaking down the doors to lend money to Gerry and his business, but Gerry ran into an innovative opportunity during a regular business encounter. If Gerry could gear up within 30 days of inking an agreement, his tech company could not only turn a profit, but be instrumental in redefining a whole industry. It was exciting and heady stuff…but Gerry’s business had a small staff whose hands were full. To ramp up and be ready to consummate the agreement, Gerry needed funds and he needed them soon.
The good news is that a lender came forward. The bad news is that high balances on a few business credit cards were hurting the business’ credit score and Gerry’s chances of getting the loan he needed.
With no time for traditional financing, Gerry talked to Merchant Cash Advance, and within a day, had the funds to pay off the credit cards. He qualified for the business loan, and could pay off the MCA over time.
Merchant cash advances are not designed for long term financing, but are an immediate source of cash when your business can grow or survive as a result. Visit investmentsstore.com and be connected to a Cash Advance professional who can help your business achieve its goals.